Synovus Financial (NYSE:SNV) issued its quarterly earnings results on Tuesday. The bank reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05, Bloomberg Earnings reports. The business had revenue of $339.07 million for the quarter, compared to the consensus estimate of $338.60 million. Synovus Financial had a return on equity of 10.44% and a net margin of 21.39%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share.
Shares of Synovus Financial (NYSE SNV) opened at $50.78 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 0.99. Synovus Financial has a 12 month low of $37.95 and a 12 month high of $51.29. The firm has a market capitalization of $6,035.50, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, December 20th. Synovus Financial’s payout ratio is presently 24.19%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Synovus Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 price target on shares of Synovus Financial in a research report on Friday, December 22nd. Robert W. Baird reissued an “average” rating and set a $47.00 price target on shares of Synovus Financial in a research report on Wednesday, January 3rd. SunTrust Banks reissued a “buy” rating and set a $54.00 price target on shares of Synovus Financial in a research report on Wednesday, November 29th. Finally, Barclays increased their price target on Synovus Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Synovus Financial currently has an average rating of “Hold” and a consensus price target of $47.30.
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About Synovus Financial
Synovus Financial Corp. is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.
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